Johnson Publishing Company, Known For 'Ebony,' 'Jet' Magazines, Files For Bankruptcy

CHICAGO (CBS)-- The chapter is closing for a key piece of Chicago's African-American history.

Johnson Publishing company, which created "Ebony" and "Jet" magazines, filed for bankruptcy this afternoon.

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Jet switched to a digital-only format in 2014.

In 2016 , both magazines were sold to an equity firm while Johnson Publishing focused on its "Fashion Fair" cosmetics brand.

The publications covered every aspect of African American life and was published in Chicago for more than 70 years.

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• Bankruptcy